Family Bank has completed its private placement of ordinary shares raising KES 8.004 billion against a KES 6.090 billion target, achieving an oversubscription of 131%.
The additional capital raised will be used to support digitization transformation, lending activities, and business expansion both locally and regionally.
“This remarkable outcome is a resounding vote of confidence in Family Bank’s resilient business model, consistent profitability, and our unwavering commitment to serving the real economy– particularly SMEs, agriculture, and underserved communities across Kenya. The overwhelming demand reflects the market’s belief in our digital transformation journey and our purpose-driven approach to inclusive banking,” said Family Bank Chairman Lazarus Muema.
The private placement which attracted strong participation from fund managers, pension funds, insurance companies, individuals, and corporate institutions demonstrates exceptional investor confidence in Family Bank’s growth strategy, financial performance, and long-term vision.
“We are deeply grateful to all investors who participated in this landmark capital raise. The additional equity significantly bolsters our capital ratios, accelerates lending to priority sectors such as MSMEs, green financing, women and youth-led enterprises. This successful raise positions Family Bank strongly for sustained growth and enhanced shareholder value,” said Family Bank CEO Nancy Njau.
Standard Investment Bank (SIB) acted as the Lead Transaction Advisor as well as placement agent together with Sterling Capital.
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